Pecaut & CO. Takes Position in Wheaton Precious Metals Corp. $WPM

Pecaut & CO. purchased a new position in Wheaton Precious Metals Corp. (NYSE:WPM) in the second quarter, Holdings Channel reports. The fund purchased 11,550 shares of the company’s stock, valued at approximately $1,297,000.

Several other institutional investors also recently bought and sold shares of WPM. AQR Capital Management LLC acquired a new position in shares of Wheaton Precious Metals during the 1st quarter worth approximately $331,000. Focus Partners Wealth grew its stake in Wheaton Precious Metals by 10.7% in the 1st quarter. Focus Partners Wealth now owns 11,223 shares of the company’s stock valued at $871,000 after acquiring an additional 1,081 shares during the period. Acadian Asset Management LLC purchased a new stake in Wheaton Precious Metals in the 1st quarter worth $209,000. Sivia Capital Partners LLC purchased a new stake in Wheaton Precious Metals in the 2nd quarter worth $239,000. Finally, Rhumbline Advisers raised its position in Wheaton Precious Metals by 28.3% during the second quarter. Rhumbline Advisers now owns 2,952 shares of the company’s stock worth $265,000 after acquiring an additional 652 shares during the period. 70.34% of the stock is owned by institutional investors and hedge funds.

Wheaton Precious Metals Price Performance

Shares of NYSE WPM opened at $134.25 on Friday. The firm has a 50-day simple moving average of $115.96 and a 200-day simple moving average of $130.57. The stock has a market capitalization of $60.97 billion, a price-to-earnings ratio of 29.77, a price-to-earnings-growth ratio of 2.33 and a beta of 0.55. The company has a quick ratio of 4.53, a current ratio of 0.47 and a debt-to-equity ratio of 0.20. Wheaton Precious Metals Corp. has a 52 week low of $90.94 and a 52 week high of $165.76.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings results on Thursday, August 6th. The company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.04. The firm had revenue of $878.00 million for the quarter, compared to the consensus estimate of $879.29 million. Wheaton Precious Metals had a net margin of 64.66% and a return on equity of 21.97%. The company’s revenue for the quarter was up 84.7% on a year-over-year basis. During the same period last year, the firm posted $0.63 earnings per share. On average, equities analysts predict that Wheaton Precious Metals Corp. will post 4.79 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th will be paid a $0.195 dividend. This represents a $0.78 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Thursday, August 20th. Wheaton Precious Metals’s dividend payout ratio (DPR) is 17.29%.

Wall Street Analysts Forecast Growth

WPM has been the topic of several recent analyst reports. Berenberg Bank set a $157.00 price objective on shares of Wheaton Precious Metals in a report on Tuesday, July 28th. Jefferies Financial Group cut their target price on shares of Wheaton Precious Metals from $182.00 to $177.00 and set a “buy” rating for the company in a research note on Monday, July 6th. Royal Bank Of Canada reduced their price target on shares of Wheaton Precious Metals from $165.00 to $160.00 and set an “outperform” rating for the company in a research report on Thursday, July 9th. UBS Group decreased their price target on shares of Wheaton Precious Metals from $165.00 to $150.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Finally, Bank of America lowered their price objective on Wheaton Precious Metals from $163.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Twelve investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $165.55.

Wheaton Precious Metals Company Profile

Wheaton Precious Metals Corp. is a Canada-based precious metals streaming company that acquires and manages long-term purchase agreements for metals produced by mining companies. Rather than operating mines, Wheaton provides upfront and ongoing financing to miners in exchange for the right to purchase a portion of the metals produced — typically silver and gold, and occasionally other precious metals — at predetermined prices. This streaming business model offers investors exposure to metal production with reduced operating and capital-cost risk compared with traditional mining companies.

The company’s activities center on structuring and maintaining a diversified portfolio of streaming agreements across multiple jurisdictions.